What would you teach a student about money?

This is Money Podcast

This is Money

Business News, Business, Investing, News

4.1 • 650 Ratings

🗓️ 7 September 2018

⏱️ 41 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

What would you teach a student about money?

It’s almost time for a fresh year of students to start university and as they find their feet with new friends and a new way of studying they will also face another challenge – being in charge of their financial life.

But we don’t have to send them off ill-equipped to deal with that, a few helpful tips can stop students ending up down to their last few pounds before the clocks even change.

And as well as offering guidance, it’s perhaps even more useful to tell students about where you went wrong with money at university, or in your younger life.

On this week’s podcast Simon Lambert and Georgie Frost have some helpful advice for students and a few candid tales of the money mistakes they made.

Also, on this week’s show, we discuss child trust funds and how the free money dished out to children has often been lost track of but could be a nice little windfall.

And we put Help to Buy under the microscope. Asking whether it will be tweaked, ditched, or the new build property market is so hooked on this subsidy that we can’t get rid of it?

Transcript

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0:00.0	Welcome to This Is Money podcast in partnership with NS&I.
0:05.0	I'm your host, Georgie Frost and alongside me today is editor Simon Lambert.
0:09.0	And coming up, as you prepare to pack your kids off to uni,
0:12.0	perhaps the best gift that you can give them before they go, is some sound financial advice.
0:18.0	Well, thankfully, This Is Money are here to help.
0:20.0	Also today, could your child be sitting on a £2,000 windfall? We'll tell you how to check and help to buy. Is it time the scheme got canned. Don't forget you can't stay up to date with all the latest breaking money news. Just go to this ismoney.com.uk. Or download the app. This is Money, brought to you in partnership with NS&I, where safer savings set you free.
0:43.2	Now it's that time of year when parents across the country wipe a tear or crack open the champagne
0:48.7	as they pack off their little darlings to university laden with books, dreams and cheese toasty makers.
0:54.5	For many youngsters, it's their first step
0:56.5	towards financial freedom,
0:58.7	a rather daunting prospect,
1:00.5	taking control of your spending, bills and budget.
1:04.2	Plus, let's not forget,
1:05.3	navigating the bank stalls at the Freshers' Fair,
1:07.8	offering free footballers in exchange
1:09.2	for over a decade of servitude to your first credit card.
1:11.9	Ignore the football's people. So to help parents out, this is money have come up with a list of the
1:17.7	four essential lessons to teach your children before they fly the nest. So Simon, your two are a
1:23.7	little way off from university just yet, I think, but I'm going to ask you about your own
1:29.1	personal experience, because for context, to those who don't regularly listen to the show,
1:33.2	I got a little bit caught out on Freshers' Fair, free football in exchange for a credit card.
1:38.8	Oh, it took me years to pay off that credit card, and God knows what happened to the football.
	...

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